Centivo Secures $34 Million in Series A Funding

Self-funded health plan Centivo raised $34 million in a Series A funding round led by Bain Capital Ventures, with additional investments from F-Prime Capital Partners, Maverick Ventures, Bessemer Venture Partners, Ingleside Investors, Rand Capital, Grand Central Tech Ventures, and Oxeon Investments. Individual investors Jim Foreman, Ken Goulet, and Kevin Hill also participated.

Centivo was founded to bring cost sustainability to employers and affordable, high-quality healthcare to Americans who struggle to pay their healthcare bills. The Centivo model emphasizes the partnership between individuals and their primary care team, and supports members through a state-of-the-art digital app and dedicated concierge team. Centivo serves as a health plan or third-party administrator for employers and partners closely with local health plans to enhance their offerings.

The company plans to use the funds to build its technology and infrastructure, develop local partnerships, and support market launch.